On 22 October 2024, the Financial Stability Board (FSB) issued a letter outlining the work it has taken on financial innovation, payments systems, and cyber and operational resilience.

The FSB also publishes the reports that it is submitting to the G20 addressing these issues, including:

  • The financial stability implications of tokenisation. The FSB report focuses on tokenisation based on distributed ledger technology, including the potential uses of tokenised assets and their interaction with the traditional financial system.
  • The status report on the G20 Crypto-Asset Policy Implementation Roadmap. The report flags some implementation challenges related to the lack of comprehensive regulation of crypto-asset issuers and service providers; cross-border issues, particularly with respect to offshore jurisdictions; and the lack of specific stablecoin regulatory requirements. The report calls on authorities to advance the implementation of the FSB’s crypto-asset framework, globally.

In addition, the FSB delivers certain other reports including a consultation on a common Format for Incident Reporting Exchange; progress reports on the G20 Cross-Border Payments Roadmap and associated indicators; and a report on depositor behaviour and interest rate and liquidity risks in the financial system, drawing on lessons from the March 2023 banking turmoil.